Nizam Mir Osman Ali Khan, the Nizam of Hyderabad, was the first billionaire of independent India. According to Time magazine’s 22/02/1937 issue, he was featured on its front page as “the richest man in the world”. After the princely state of Hyderabad merged with India, Osman Ali still had billions of rupees deposited in his foreign bank account. His total net worth is considered to be 17.47 lakh crores, and he had his own currency and airline.
His wealth, however, was often the subject of discussion due to his miserliness. He wore simple clothes and his bedroom was cleaned only once a year. He was also stingy in feeding guests, serving only tea and a biscuit. Despite his wealth, he was known for his frugal lifestyle.
Osman Ali Khan became the Nizam of Hyderabad in 1911 and remained in that position until Hyderabad merged with India. His biggest source of income was the Golconda Mines, which was the only medium of diamond supply in the world at that time. He had 100 million pounds of gold, 400 million pounds of jewels, and more than 3 billion rupees deposited in a bank in England.
The Nizam’s wealth was equal to 2% of the total GDP of America in 1947. His legacy continues to be a topic of interest and fascination for many.
In conclusion, Nizam Mir Osman Ali Khan was a wealthy and powerful figure in Indian history and remains an important part of its legacy today.
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